DPF Briefing

September 2003

Homeowners Friendly Society and UK Civil Service Benefit Society Agree to Merge

Homeowners Friendly Society and UK Civil Service Benefit Society (UKCSBS) are pleased to announce that they have agreed to merge.

It is intended that UKCSBS will transfer its engagements, subject to contract, regulatory and members’ approval, to Homeowners later this year.

Mike Rush, Chief Executive of UKCSBS said: “The driving factor in our merger discussions has been the benefits that would accrue to our members. We believe that a union with Homeowners is a very positive move, and that our combined resources will prove to be advantageous to the members of both Societies. We will shortly be in touch with UK members to explain the proposal in detail and to outline its benefits.

Andrew Haigh, Chief Executive of Homeowners added, “We are looking forward to welcoming the UKCSBS members to Homeowners, as part of the merged organisation. Homeowners had been successful in developing relationships with other mutuals in recent years, ranging from distribution arrangements to third party administration. The merger of UKCSBS with Homeowners continues that partnership strategy. The combination of Homeowners’ administration systems and product range with the UK’s proven Civil Service distribution will present a strong proposition to a huge audience in their workplace.